Anthony Lawlor (Kildare North, Fine Gael)
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I thank the witnesses and I have attended a number of previous briefings for companies. I am delighted at the fact that for most small and medium enterprises, SMEs, the problem is now working capital rather than investment capital. The banks are being allowed to make decisions and they can micro-manage that issue better than the witnesses. What is the average stake taken by venture capitalists, either in start-up companies or those seeking capital to expand? What is the percentage rate of failure? I am worried that there may be cherry-picking of companies which have gone through the process already. I hate to see figures that 90% of companies get capital succeed - I would be much happier if it were 50% - as people learn from failure more than success.